Always wanted to won your own business but not sure where to start? That’s not an uncommon feeling. That’s why many people consider franchising as a way to have their own business, their own legacy, while still not being thrown out there alone. In fact, you get quite the guidebook to show you everything from start to finish, A-Z.

Here is a list of reason’s why many Business Owners choose franchising:

1. You Are Not Starting From Scratch
No need t reinvent the wheel here. It’s already been done…. many times already depending on how old the franchise is. Just be coachable and open to learning from those who have walked the path before you.

2. Trademarks and Patents Have Been Accounted For
Protection of the brand you are creating is vital and trademarks and patents aren’t cheap. Franchisees are able to save a lot of time, money and stress by allowing the Franchisor to handle this.

3. Territory Rights
As mentioned above, protection is important. With a franchise you are more often than not awarded a territory which protects you from having any other franchise open up in that area.

4. Start Up Costs are Predictable
Being that a franchise has been done numerous times before, costs can be estimated to ensure that you have budgeted properly and have enough capital to get your business off and running. There is nothing more detrimental to a business than running out of money during your start up.

5. Operational Support and Training
No matter how amazing your business is, you will have up days and down days. Having support to get you through that is an enormous advantage! As well, training on the “what not to do’s” as well as what needs to be done saves you a lot of time and money…. and more time and money

6. Consumer Awareness Already Exists
Imagine opening your doors day 1 and already having customers who are ready to buy. They already know your brand, service, products and came prepared with a credit card in hand. That is very difficult to do when you are start a one off company but in a Franchise, that is exactly what can happen.

7. Strength in Numbers
One of my favorite words in the business language is LEVERAGE. Leverage of money, time, exposure, momentum, everything! In a franchise you can build something so much bigger together as one unit that you ever could on your own. That’s invaluable!

8. Peer Network and Support
It’s one thing to have support from a Head Office or Corporate entity but to have it also from people who are experiencing exactly what you are can give you a lot of extra piece of mind and piece of mind. Tap into the network around you and see how you can learn from other Franchisees in the system.

9. Research and Development
There are many aspects of a business that you need to stay on top of and sometimes it can feel like a juggling act. Staffing, accounting, merchandising, advertising, marketing and networking, and so on. Research and Development tends to fall in priority yet if not kept on top of it can devastate your business. A good Franchisor will always be on top of trends, new technology and where the market is going to ensure you never become obsolete.

10. Small Business Ownership
The reason for even reading this post. You want to own your own business and create everlasting wealth, security and a legacy to leave to your family. Owning a Franchise can often help you to achieve this sooner.

Pin It on Pinterest

Share This